Brazil races to launch carbon market ahead of COP30

Quick Summary:

Initiative aims to cut emissions and fund rainforest preservation, though political disputes and sector exemptions pose significant challenges.

As Brazil prepares to host COP30 in the city of Belém in 2025, the country has moved closer to establishing one of the first major carbon emissions trading systems in the developing world.

The Brazilian Greenhouse Gas Emissions Trading System being discussed is modelled on the carbon pricing mechanism in the European Union.

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Article Details

Author / Journalist: Matt Sandy, Juliana Horta

Category: EconomyBusiness

Markets: SingaporeBrazilChinaIndiaIndonesiaMexicoTurkey

Topics: Carbon credits Agriculture Farming Paris Agreement Reforestation COP29 Consumer products Reporting Decarbonisation Emissions Nature-based solutions Research Fossil fuels Investment Carbon footprint Global warming Regulation COP Agribusiness Natural resources Legislation Deforestation Crops Financing Forests Governance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-17 @ 07:07:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1583 words

Reading Time: 9 minutes read

Sentences: 61 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 21662300

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